Unhappy with your current property manager? Slow replies, a new face every few months, rent that hasn’t been reviewed in years? Many landlords put up with it because they think changing agents is complicated, or that their tenants will have to move out. In most cases, neither is true. Here’s how switching property managers works in NSW.
Do my tenants have to move out?
No. Your tenants’ lease stays exactly as it is. Only the managing agent changes. Your tenants keep paying the same rent under the same agreement; they simply deal with a new property manager and pay rent to a new account.
How switching works, step by step
- Check your current management agreement. It sets out how much notice you need to give your current agent and whether any fees apply when you end it. If you can’t find your copy, ask your agent for one.
- Choose your new property manager and sign a new management agreement with them. A good agent will explain their fees and services in writing before you sign.
- Give your current agent written notice that you are ending the agreement, in line with its notice period. Your new agent can help you with the wording.
- Handover. Your old agent passes everything to your new agent: keys, the current lease, the condition report, bond details, the rent ledger, and maintenance and inspection records.
- Your tenants are told about the change. Under the NSW Residential Tenancies Act, tenants must be told in writing about a change to the landlord’s or agent’s contact details within 14 days. In practice, your new agent writes to the tenants with their contact details and how to pay rent.
- Your new agent takes over day-to-day management: rent, repairs, inspections and lease renewals.
What should the handover include?
- All sets of keys, remotes and access fobs
- The current residential tenancy agreement and any renewals
- The ingoing condition report and recent inspection reports
- Rental bond details (lodged with NSW Fair Trading’s Rental Bonds Online)
- The rent ledger, showing what has been paid and whether anything is owing
- Maintenance history, warranties and compliance records such as smoke alarm servicing
Can I switch in the middle of a lease?
Yes. The lease is between you and your tenants, not between your tenants and the agent, so you can change agents at any time. The only timing that matters is the notice period in your current management agreement.
Does it cost anything to switch?
That depends on your current management agreement. Some agreements include a termination fee or require a minimum notice period, so check it first. Soho explains all of our fees clearly, in writing, before you sign anything.
Thinking of switching to Soho?
Soho Property Group manages rental properties across Macquarie Park, Ryde and nearby suburbs. You get one dedicated property manager with more than 15 years in the industry, and we handle the handover from your current agent for you. We reply to every enquiry within one business day.
See how switching to Soho works, request a free rental appraisal, or call us on 02 9011 7100.
This guide is general information, not legal advice. For the official rules, see NSW Fair Trading.
